Romania. Land prices doubled in a year
2011-11-22 11:33:48
Romanian Agriculture Minister Valeriu Tabara said today (Mon) that the price for arable land in Romania had almost doubled in the last year.
Valeriu Tabara said: "We're seeing almost a doubling of prices, although prices for good quality land are the lowest in the European Union."
Prices of arable land vary, depending on quality, from as low as 1,500 Euros per hectare in 2010 to up to 5,000 Euros per hectare in 2011, much lower than the European maximum - of 15,000 Euros per hectare, Tabara said.
Valeriu Tabara said that the demand to buy agriculture lands was intensifying.
Foreign citizens own over 700,000 hectares of agricultural land in Romania, Agriculture Minister Valeriu Tabara said today.
It represents 8.5 per cent of the total agricultural land in Romania.
For example, Italian citizens have 24.29 per cent of the lands owned by foreigners in Romania, Germans - 15.48 per cent and Arabs - 9.98 per cent. Another data set shows Austrians hold 6.13 per cent and Spaniards 6.22 per cent of the lands owned by foreigners in Romania.